Monday , May 16 2022

Big Chinese parent of Lenovo buys salmon Australis: launches OPA for $ 880 million Bajada: Biznisman Isidoro Kuiroga has reached an agreement to sell its shares to the Asian company Joivio, which belongs to the legend of the holding, which among other companies manages signing computers.


Biznisman Isidoro Kuiroga agreed to sell his shares to Joivio, the parent of Lenovo.

Isidoro Kuiroga has agreed to sell the Australis Asian giant Joivio, which belongs to the holding company Legend, which among other companies is managing a computer company Lenovo, in an operation that could reach $ 880 million.

Chilean businessman controls 94.5% of the salmon farm, but in any case the Asian Asian company reported that it will launch a takeover bid (OPA) for 100% of the company, in the operation – the largest in the national salmon industry so far – in which LarrainVial participated as an exclusive consultant.

"According to the promise of the sale, shareholders agreed with Joivio that if the transaction materializes, the price that will be offered in the bid purchase for all Australian shares will be (…) $ 880 million," he said. the essential fact sent to the regulator of Chile's Chilean salmon company, Martin Guiloff.

It is specified that the agreement considers a series of conditions that must be fulfilled at the latest in April 2019. In addition, it is pointed out that when Joivio completes sufficient due diligence, the parties will sign the appropriate buy-out contract, and will then seek the authority of the Chinese authorities, as well as other relevant permits in Chile and abroad. When all this is achieved, OPA would be launched within 10 business days, which will not be the subject of conditions for success or cause of expiration.

In case any of the parties fails to fulfill the contract, others may charge $ 20 million in damages, says the essential fact.

In August this year, Agrosuper-era controlled by Gonzalo Viala agreed to take control of Empresas AkuaChile, in a $ 850 million business. The transaction will be realized through a public offer of shares (OPA).

The Agrosuper offer of $ 473 per share (after the observed exchange rate of 6 August) is equivalent prize of 15% against $ 410 closure before the agreement was announced.

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